Brazil's economy tops United Kingdom's

NEW YORK (CNNMoney) -- Despite battling slower growth of its own, Brazil's economy surpassed that of the sputtering United Kingdom in 2011, according to a new estimate from the Centre for Economics and Business Research.

Brazil's Gross Domestic Product for the year was $2.469 trillion, according to the study -- making it the sixth-largest economy in the world.

Slow growth in 2011 spurred Brazil's central bank to go on a interest rate-cutting spree in an effort to revive the country's faltering economy, despite the fact that inflation is still a major concern.

Brazil's central bank is scheduled to meet Wednesday, and another cut is widely expected from the current 10.5% rate.

Brazil is the only one of the so-called BRIC -- Brazil, Russia, India and China -- nations to show slower growth recently.

Earlier this week, Chinese Premier Wen Jiabao set a lower target for China's economic growth, underscoring the need to make the country's breakneck development more sustainable.

The government is aiming for economic growth of 7.5% in 2012, Wen said, lower than the goal for last year of about 8%.

Even the rapidly growing Chinese economy has a long way to go before catching up to the United States, which recorded GDP in excess of $14 trillion in 2011.